Author: NBTC

Ethereum price extended losses and tested the $2,450 support zone. ETH is recovering losses and struggling to gain pace for a move above the $2,550 level. Ethereum started a recovery wave from the $2,450 zone. The price is trading below $2,560 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,540 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,580 and $2,600 resistance levels. Ethereum Price Starts Recovery Ethereum price extended its decline below the $2,550 level…

Alliance noted a shift in crypto startup trends for the first half of 2024. DAO and NFT projects were already on their way out, while infrastructure and DeFi were in. Alliance is one of the leading accelerators for crypto startups, tracking the trends in real-time. The organization vets and supports 3,000 startups per year, and has a direct connection to industry trends. The next cohort of startups can apply until November 20, with a potentially different set of trends. Alliance organizes two rounds of applications per year, and recently released the report of startups for H1. The major trends are…

According to the recent CoinShares report, last week, institutional investors increased their bet on XRP, while withdrawing funds from ADA and the second largest cryptocurrency, Ethereum. The report was shared on the X platform by Chinese cryptocurrency blogger and journalist Colin Wu on his personal page. XRP has seen $0.1 million added by investors, while Cardano’s native coin, ADA, faced a $0.2 million outflow and Ethereum lost $28.5 million. Litecoin and Solana outpaced XRP, with $0.2 million and $3.2 million inflows over the last week. According to CoinShares, digital asset investment products saw net inflows for the second week in…

On October 2nd the UAE Federal Tax Authority exempted crypto transaction from value-added tax (VAT). Effective from Nov. 15, 2024, the exemption applies retrospectively to transactions dating back to Jan. 1, 2018. The decision was seen as positive by many within and outside the sector, especially for VASP activities within the UAE. The amendment clarified that the 5% VAT does not apply to digital assets, covering exchanges and ownership transfers, similar to what is applied to other traditional financial services. Kokila Alagh Founder of KARM Legal on LinkedIn noted, “This will mean reduced tax burdens for VASPs, as they will…

The Somnia blockchain will enter its DevNet phase in the coming weeks. Improbable claims that the blockchain will process over 400,000 transactions per second. Improbable, the British metaverse technology company creating Yuga Labs’ Otherside platform, has said the Somnia blockchain will enter its DevNet phase in the coming weeks. The blockchain will process over 400,000 transactions per second (TPS) with sub-second latency and low fees, as well as being Ethereum Virtual Machine (EVM) compatible, according to Improbable. “The blockchain [will] enable very, very high transaction throughput and the ability to put more things on-chain,” Improbable co-founder and CEO Herman Narula…

Macro expert Lyn Alden says she’s “very bullish” on Bitcoin (BTC) over the longer term amid the soaring interest payments of the US government to its more than $35 trillion national debt. Alden notes in a recent newsletter that BTC has been highly correlated with global liquidity, a trend the analyst expects to continue. “My five-year outlook on the asset is very bullish, but the volatility must be accounted for in position sizes for a given portfolio and its requirements.” According to Alden, one reason she believes Bitcoin will trade higher over the long arc of time is the expectation…

CoinGecko published a report analyzing staking yields among the largest PoS blockchain projects. The survey analyzed yields, ratios, and other functionality metrics, and found a wide range of viable strategies. Cosmos, Polkadot, and Tezos currently offer the highest staking yields, but other contenders may take their place. CoinGecko’s PoS Analysis CoinGecko, a prominent crypto data aggregator, released a new report today on proof-of-stake (PoS) blockchains. The study looked at staking yields and ratios, as well as network functionality and other metrics. Based on this assessment, CoinGecko determined that Cosmos (ATOM) offers the highest staking yield available. Read more: Proof-of-Work vs…

Ripple CEO Brad Garlinghouse offered his most positive statements about Democratic presidential candidate Kamala Harris to date on Wednesday, while attempting to toe his company’s official line of neutrality on the 2024 U.S. presidential election. During an onstage appearance at D.C. Fintech Week this afternoon, the crypto executive appeared to compliment what he saw as the sophistication of Harris’ approach to digital assets, in contrast with the strategy of her election opponent, former president Donald Trump. “Obviously, Trump came out early and very aggressively… and said he’s the crypto president,” Garlinghouse said. “Kamala and Team Harris have been more nuanced.”…

Arkham is among the top trending artificial intelligence-related token as the price of its native token ARKM surges more than 27% in 24 hours. Per CoinMarketCap data, ARKM reached highs of $1.47 across major exchanges, its highest level since July. The Arkham (ARKM) price surge comes amid a fresh spark of volatility across crypto, with Bitcoin holding above $63,500 and Ethereum near $2,700. Arkham surge leads AI tokens Binance launchpool released project Arkham sees its ARKM spike to rank as the biggest gainer among AI’s leading coins by market cap. However, there are significant gains for Bittensor (TAO), Near Protocol…

Stablecoin issuer Tether’s CEO made a U.S. appearance to explain how helpful his company is being with law enforcement agencies and how he’ll embrace government oversight. The appearance at DC Fintech Week was remote, with Paolo Ardoino making his case from a video screen. Tether CEO Paolo Ardoino told a U.S. crowd on Tuesday that he’s counting on sensible crypto regulations coming soon from the U.S. “There is no place like the U.S.,” he said via video link at DC Fintech Week in Washington. “I think it’s very, very important that sensible crypto regulations and stablecoin regulations will come to…